Oklahoma

State

Senate

Legislative
Brief

June 2000

Retirement legislation affecting each of the state retirement systems was passed during the 2nd Session of the 47th Legislature. The following is an outline of the legislation affecting each of the retirement systems:

Summary of Actions

(OPERS) Oklahoma Public Employees Retirement System

SB 994 (Morgan/Stites) [§13]: Creates portability of service credit for certain members with service credit in the Teachers' Retirement System of Oklahoma (OTRS). This section further allows certain members of OPERS who become employed by certain participating employers in OTRS to retain membership in OPERS.

• [§14]: Provides an average 5% cost of living increase by multiplying $1283.00 by 2% then taking this sum and multiplying it by the number of years of service the member served and dividing by 12. This amount will be the monthly increase in the member's retirement benefit. This benefit shall begin in July of 2000 and shall only be made to those persons who have been receiving benefits on or before June 30, 1999.
  
  
• [§15]: Provides an increase of $30.00 from $75 to $105, the amount the retirement system pays monthly towards a retired member's health care premiums.

SB 1002 (Maddox/Ostrander): Allows for current members, including retired members, of the system to apply to receive eligible military retirement service credit upon retirement even though the member is receiving or eligible to receive military retirement benefits. Also provides that persons who become members of the system on or after July 1, 2000, shall have to purchase any eligible military service credit if they desire to do so.

SB 1036 (Stipe/Corn): Modifies the normal retirement date for correctional and probation and parole officers to be twenty years. Provides a flat 2 1/2% retirement multiplier for years of service up through the first 20 years of service as a correctional or probation and parole officer.

HB 2133 (McCarter/Crutchfield): This bill allows certain members of OPERS, who did not elect to participate in OPERS as a temporary legislative session employee, to elect by December 31, 2000, to pay the actuarial cost to receive such credit.

(OTRS) Teachers Retirement System of Oklahoma

SB 817 (Milacek/McCarter): Provides an exception to allow retired educators to work for a school district under a temporary contract for more than 3 semesters.

SB 994 (Morgan/Stites) [§10]: This section allows certain members of the system who were employed by the Legislative Service Bureau, Legislature, or Governor and who elected to stay a member of OTRS, to now elect to join OPERS. It also provides portability of service credit for certain members who have service credit in OPERS. This section further allows certain members who withdrew their contributions in OTRS to return such contributions in order to receive a retirement benefit.

• [§11]: Provides a 1.8% average cost of living increase for classified and non-classified retired members of the Teachers' Retirement System. The benefit is based upon taking $250.00 for non-classified and $500.00 for classified members and adding it to the member's current average salary and then recalculating the retirement benefit. This benefit shall begin in July of 2000 and shall only be made to those persons who have been receiving benefits on or before June 30, 1999.
  
  
• [§16]: Provides an increase of $30.00 to the amount the retirement system pays monthly towards a retired member's health care premiums.

(FFPRS) Oklahoma Firefighters Pension And Retirement System

SB 994 (Morgan/Stites) [§1]: Provides a 4.7% cost of living increase for retired members of the System. This section also increases from $6.08 to $6.37 the amount that retired volunteer firefighters may make. This benefit shall begin in July of 2000 and shall only be made to those persons who have been receiving benefits on or before June 30, 1999.

(PPRS) Oklahoma Police Pension And Retirement System

SB 994 (Morgan/Stites) [§2]: Removes the age restriction for membership in PPRS if the person joining the system was a former member. Also allows purchase of withdrawn service credit.

• [§3]: Provides a 4.7% cost of living increase for retired members of the System. This benefit shall begin in July of 2000 and shall only be made to those persons who have been receiving benefits on or before June 30, 1999.

(URSJJ) Uniform Retirement System For Justices And Judges

SB 994 (Morgan/Stites) [§4]: Provides a 3.0% cost of living increase for retired members of the System. This benefit shall begin in July of 2000 and shall only be made to those persons who have been receiving benefits on or before June 30, 1999.

• [§15]: Increases by $30.00 the amount that the retirement system pays for a retired member's health care premiums.

SB 1002 (Maddox/Ostrander): Allows for current members, including retired members, of the System to apply to receive eligible military retirement service credit upon retirement even though the member is receiving or eligible to receive military retirement benefits. Also provides that new members of the system on or after July 1, 2000, shall have to purchase any eligible military service credit if they desire to do so.

(OLERS) Oklahoma Law Enforcement Retirement System

SB 837 (Maddox/Roberts): Allows certain members of the OLERS who are employed by the Oklahoma State Bureau of Narcotics and Dangerous Drugs Control and who are vested in the PPRS to rejoin PPRS.

SB 994 (Morgan/Stites) [§7]: Provides an increased disability benefit for certain members injured in the line of duty.

• [§9]: Provides an increased pension benefit for beneficiaries of a member killed in the line of duty. Also increases the monthly death benefit for children of a deceased member from $100 to $400.
  
  
• [§8]: Provides a 3.0% cost of living increase for retired members of the System. This benefit shall begin in July of 2000 and shall only be made to those persons who have been receiving benefits on or before June 30, 1999.
  
  
• [§15]: Increases by $30.00 the amount that the retirement system pays for a retired member's health care premiums.

SB 1002 (Maddox/Ostrander): Allows for current members, including retired members, of the system to apply to receive eligible military retirement service credit upon retirement even though the member is receiving or eligible to receive military retirement benefits. Also provides that new members of the system on or after July 1, 2000, shall have to purchase any eligible military service credit if they desire to do so.